AltaPacific Bancorp Expands Share Repurchase Program

SANTA ROSA, Calif.–(BUSINESS WIRE)–AltaPacific Bancorp (OTCBB: ABNK), the parent company of AltaPacific
Bank, today announced that its Board of Directors approved a $2 million
increase to the Company’s Share Repurchase Program. The Repurchase
Program will expire on December 31, 2020, unless completed sooner or
otherwise extended.

Purchases made pursuant to the Program will be made in either the open
market or in privately negotiated transactions from time to time as
permitted by federal securities laws and other legal requirements. The
timing, manner, price and amount of any repurchase will be determined by
the Company in its discretion and will be subject to economic and market
conditions, stock price, applicable legal requirements and other
factors. The Company has no obligation to repurchase any shares under
this program and the program may be suspended or discontinued at any

AltaPacific Bancorp is the parent company for AltaPacific Bank. The
Company’s stock trades over the counter under the symbol ABNK.
AltaPacific Bank is an independent business bank headquartered in Santa
Rosa, California and has additional banking offices in Glendora,
Ontario, Riverside, San Bernardino and Temecula, California. The bank is
focused on meeting the specialized needs of small to medium-sized
businesses and professionals throughout California. For additional
information, please contact us at (707) 236-1500 or online at

Forward-Looking Statements

This press release may contain forward-looking statements about
AltaPacific Bancorp and its subsidiaries, including descriptions of
plans or objectives of its management for future operations, products or
services, and forecasts of its revenues, earnings or other measures of
economic performance. Forward-looking statements can be identified by
the fact that they do not relate strictly to historical or current
facts. They often include the words “believe,” “expect,” “anticipate,”
“intend,” “plan,” “estimate,” or words of similar meaning, or future or
conditional verbs such as “will,” “would,” “should,” “could,” or “may.”
Forward-looking statements, by their nature, are subject to risks and
uncertainties. A number of factors — many of which are beyond
AltaPacific’s control — could cause actual conditions, events or results
to differ significantly from those described in the forward-looking
statements. Factors that may cause actual results to differ materially
from those contemplated by such forward-looking statements include,
among others, the following possibilities: (1) competitive pressures
among depository and other financial institutions may increase
significantly; (2) revenues may be lower than expected; (3) changes in
the interest rate environment may reduce interest margins; (4) general
economic conditions, either nationally or regionally, may be less
favorable than expected, resulting in, among other things, a
deterioration in credit quality and/or a reduced demand for credit; (5)
legislative or regulatory changes, including changes in accounting
standards and tax laws, may adversely affect the businesses in which
AltaPacific is engaged; (6) competitors may have greater financial
resources and develop products that enable such competitors to compete
more successfully than AltaPacific; and (7) adverse changes may occur in
the securities markets or with respect to inflation. Forward-looking
statements speak only as of the date they are made. Except as required
by law, AltaPacific does not undertake to update forward-looking
statements to reflect subsequent circumstances or events.


Charles O. Hall
Chief Executive Officer
(707) 236-1500

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